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Author Topic: Money pit so it seems.  (Read 1169 times)
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Harpua3
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« on: October 09, 2014, 04:51:41 AM »

Loving the new house with the new roof, new windows, new driveway, new kitchen, nice hardwood floors( despite the fur control), all good. But! I need to redo ALL of the electrical. Almost EVERYTHING! There's 8k gone. I'm sick to my stomach. I wanted to just throw this out there and get a discussion going because if I state everything now I will explode or implode. Not sure which one, but I need forum therapy.
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WorkingMike
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« Reply #1 on: October 09, 2014, 05:36:09 AM »

Ah, that sucks. Do you have aluminum wiring? I'm assuming you need a new breaker as well.

Rewiring a house is a giant pain in the ass, best of luck with it.
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« Reply #2 on: October 09, 2014, 11:32:00 AM »

Less than a year into our new home (thirteen years ago), we started noticing an oily smell in the basement.  Turned out that not only had our oil tank sprung a slow leak, but it had somehow dripped through the cement and into the earth below, contaminating it.

$30K. And years of venting.

New houses always have something.
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« Reply #3 on: October 09, 2014, 02:14:56 PM »

Quote from: Harpua3 on October 09, 2014, 04:51:41 AM

Loving the new house with the new roof, new windows, new driveway, new kitchen, nice hardwood floors( despite the fur control), all good. But! I need to redo ALL of the electrical. Almost EVERYTHING! There's 8k gone. I'm sick to my stomach. I wanted to just throw this out there and get a discussion going because if I state everything now I will explode or implode. Not sure which one, but I need forum therapy.
With the cost of all that "new"  stuff you have, 8k should be a drop in the bucket!
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ATB
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« Reply #4 on: October 09, 2014, 02:23:42 PM »

I may have missed the details, but how did this get past the inspector? And if it's a new new house, then...the builder is on the hook.
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Harpua3
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« Reply #5 on: October 09, 2014, 03:08:52 PM »

Sorry guys. New to me, not new. The home inspector saw some stuff and the seller was supposed to address it. We are investigating atm.
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leo8877
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« Reply #6 on: October 09, 2014, 03:47:47 PM »

Just think of how much value it is adding to the house!
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ATB
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« Reply #7 on: October 09, 2014, 04:55:06 PM »

Quote from: leo8877 on October 09, 2014, 03:47:47 PM

Just think of how much value it is adding to the house!

Now that is just MEAN!  icon_lol

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leo8877
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« Reply #8 on: October 09, 2014, 05:36:20 PM »

Quote from: ATB on October 09, 2014, 04:55:06 PM

Quote from: leo8877 on October 09, 2014, 03:47:47 PM

Just think of how much value it is adding to the house!
Now that is just MEAN!  icon_lol

It's the truth though, all that new stuff will make the home more valuable and make it a better investment.
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ravenvii
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« Reply #9 on: October 09, 2014, 06:02:07 PM »

That's why I don't bother with a house.
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Purge
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« Reply #10 on: October 09, 2014, 08:03:21 PM »

Cardboard all the way.

Just gotta move every time it rains.
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« Reply #11 on: October 09, 2014, 08:05:26 PM »

Quote from: Purge on October 09, 2014, 08:03:21 PM

Cardboard all the way.

Just gotta move every time it rains.
Yeah, and with the free wifi from the mickey dees, you don't even need to buy that much any more.  

Ah, home crap home
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Ironrod
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« Reply #12 on: October 09, 2014, 10:55:57 PM »

Wiring is on our maybe-eventually-someday list. They told us when we bought the house 25 years ago that it needed to be updated. We have an old-school fuse box with some knob & tube wiring still in place. The house is 102 years old.

Five years of un- and underemployment set us back a long way on home maintenance as we cannibalized all of our short-term savings and most of our home equity line. Finally bought a new $8,000 roof last week -- I can take the bucket out of my office, hooray! Now saving aggressively for a paint job next year because the house looks like hell. After that, we can start to think about some of the cosmetic improvements that we've wanted for years, maybe even a kitchen or bathroom makeover. My wife is a year and a half away from the magical age of 59-1/2 when she can access a long-stagnant Roth that's got home improvements written all over it.

Wiring? Yeah, wiring comes sometime after that unless a renovator simply can't work with what we have.
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Harpua3
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« Reply #13 on: October 10, 2014, 04:39:11 AM »

Quote from: Ironrod on October 09, 2014, 10:55:57 PM

Wiring is on our maybe-eventually-someday list. They told us when we bought the house 25 years ago that it needed to be updated. We have an old-school fuse box with some knob & tube wiring still in place. The house is 102 years old.

Five years of un- and underemployment set us back a long way on home maintenance as we cannibalized all of our short-term savings and most of our home equity line. Finally bought a new $8,000 roof last week -- I can take the bucket out of my office, hooray! Now saving aggressively for a paint job next year because the house looks like hell. After that, we can start to think about some of the cosmetic improvements that we've wanted for years, maybe even a kitchen or bathroom makeover. My wife is a year and a half away from the magical age of 59-1/2 when she can access a long-stagnant Roth that's got home improvements written all over it.

Wiring? Yeah, wiring comes sometime after that unless a renovator simply can't work with what we have.
Thx man. Perspective is everything. You can laugh or cry in these situations. Im choosing laughing.
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hitbyambulance
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« Reply #14 on: October 10, 2014, 08:39:10 AM »

Quote from: Ironrod on October 09, 2014, 10:55:57 PM

Finally bought a new $8,000 roof last week -- I can take the bucket out of my office, hooray!

doesn't having a leaky roof for that long lead to mold growth?
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Harpua3
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« Reply #15 on: October 10, 2014, 02:19:33 PM »

Quote from: hitbyambulance on October 10, 2014, 08:39:10 AM

Quote from: Ironrod on October 09, 2014, 10:55:57 PM

Finally bought a new $8,000 roof last week -- I can take the bucket out of my office, hooray!

doesn't having a leaky roof for that long lead to mold growth?

Id wonder about that too.
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Ironrod
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« Reply #16 on: October 10, 2014, 04:05:24 PM »

There's no access to the attic so who knows? At least the roofers discovered that it's well-insulated. I didn't know if there was any insulation up there at all.
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rittchard
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« Reply #17 on: October 10, 2014, 04:34:57 PM »

Unless it's a brand new house, I suspect the majority of houses can easily become money pits.  When I bought my house it looked like it was in really nice condition and just needed some minor updates, and only if/when I felt like it.  But the longer I live in it, the more things I see that could or really should be done.  I have a list of like 10 major things and 20 minor ones lol.  And that's AFTER spending around $40k on a kitchen remodel, and another $10k on flooring and water heater and AC.  Not to mention the 30 year mortgage which I've barely made a dent in.  So yeah...MONEY PIT!!!!
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EngineNo9
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« Reply #18 on: October 10, 2014, 06:14:45 PM »

You guys make me feel even better for being a serial renter.  Tongue

Not that I would ever really buy a house, working in a volatile industry where most jobs only last a couple years.  I don't want to just get settled down and then find out I'm laid off and the next job I find is in another state and be saddled with selling a house remotely.  I've seen that really wear on people for long periods.
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« Reply #19 on: October 10, 2014, 08:22:52 PM »

Bah. It's great owning a house.  

We have been blessed that two of the three houses we've owned have been brand new.  The one that wasn't, however, we sank a ton of money into...but fortunately we made an absolute killing on it when we sold it.

The house we're in now, I hope to never leave.  We did spend about 25k finishing the basement (doing almost all the work was my father and me) and I'd love to some day finish the attic.  We do need new carpet upstairs, but things wear out. That's just the way it is.

YMMV. slywink
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Ironrod
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« Reply #20 on: October 10, 2014, 11:02:07 PM »

We've only ever owned one house. We bought it 25 years ago for $148,500 and we still owe about $76,000 on it. In its current condition it's probably worth around $225,000; it will be worth closer to $300,000 if we can fix and improve a few key things -- obviously, I don't want to put more than $75,000 into doing that since that's what I figure the improvements will be worth. That's not a great return strictly as an investment, but we were housed for 25 years and our mortgage payment is less than half of what rent would cost nowadays. We didn't spend much on maintenance in all those years, and that's catching up with us now.

The house is 102 years old and we're only its 4th owners, so people do tend to live here a long time. Its location is nearly ideal for our lifestyle.

Our tentative plan is to sell in 10 years. We will be at full social security retirement age and (bonus!) our mortgage will be paid off, so we can use the proceeds to buy another, more elder-friendly house in cash. Housing prices are lower where we plan to retire.
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Harpua3
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« Reply #21 on: October 12, 2014, 06:15:17 AM »

So ready for this? Quite possibly unrelated but still related again somehow. I hit and killed a deer on my way home from work tonight. Awesome! I feel horribly shitty about killing a animal then on top of it having to fix my car. It could have been SO much worse, but still unpleasant at a bad time. Did I also mention that my wife's grandmother pasted away the same day we got the quote of thousands of dollars? Ack! I just want a break from horseshit about now.
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Caine
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« Reply #22 on: October 12, 2014, 08:51:41 AM »

Damn, dude. That is pretty messed up.  How big of an animal was it and how bad was your car damaged?

Sorry to hear about all these issues going on right now. I hope you get a good run of luck soon.
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morlac
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« Reply #23 on: October 12, 2014, 01:58:12 PM »

We had to replace our hardwoods downstairs three times in 4 years to do 3 unrelated "Floods". 

1st was a 8 year old hot water heater melt down.  Pretty standard stuff it just sprung a leak, wasn't to bad floors don't like water so yea all gone.

2nd was a pressure release valve(not replaced with the above) to the new hot water heater.  This one sucked as it had a slow leak INSIDE the wall.  Took two months of dripping before it was noticed.  Bonus points earned for having to rip out the walls and replace everything due to mold.  Insurance fight on this one sucked as they claimed we were negligent in not noticing it.  We settled eventually.

3rd one was only 8 months after the second.  Main sewage line to street got roots.  I got poop water.  Anything it touched had to go.  Baseboards, walls, Rugs, furniture, etc.  Bonus points earned when plumbers hit a main gas line and half the neighborhood had to be evacuated.   Insurance was nice on this one.  They paid for all the damages but not the sewage line fix. They did say the next claim would result in us being dropped.  I told my wife not to worry as an arsonist would fix the next one.
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Harpua3
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« Reply #24 on: October 12, 2014, 09:35:33 PM »

Quote from: Caine on October 12, 2014, 08:51:41 AM

Damn, dude. That is pretty messed up.  How big of an animal was it and how bad was your car damaged?

Sorry to hear about all these issues going on right now. I hope you get a good run of luck soon.

Thanks man. Probably 300lb or so. Not a huge buck but not a baby either. Surprisingly not much damage. It shot straight out when I hit the brakes. So thankfully it didn't fly up over on the hood. It died instantly at least. I feel pretty shitty about killing a animal though.  icon_frown
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« Reply #25 on: October 13, 2014, 03:51:59 AM »

I haven't ever hit a deer, but I was riding in a car that a friend was driving. Not fun!

I just moved into a house in May, after I got the settlement from my ex. All the electrical sockets need to be changed, it needs a new kitchen and a ton of wall repairs and a repaint. Worse of all, the previous owners had 3 cats and no sense of smell. Every rug has to be torn up, the padding removed and the floors primered.  mad
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« Reply #26 on: October 13, 2014, 02:44:11 PM »

Quote from: Default on October 13, 2014, 03:51:59 AM

Worse of all, the previous owners had 3 cats and no sense of smell. Every rug has to be torn up, the padding removed and the floors primered.  mad

Just in case you weren't aware of it: KILS
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« Reply #27 on: October 13, 2014, 08:43:04 PM »

Yup. using the shellac base, because I can't live with the oil.
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hitbyambulance
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« Reply #28 on: October 13, 2014, 09:16:00 PM »

ugh. i suppose the walls were 'marked' as well.
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Harpua3
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« Reply #29 on: October 29, 2014, 04:01:29 AM »

So, the electrical should be mostly, if not completley, done tomorrow. If anything I might run a few new circuits off the new box for a few key areas. Might not be necessary after I find out everything tomorrow. Though, really hoping that's the case so I can hook up my ps4 then my Mac! And for other more adult like reasons... We are going after the money from the seller bc it was in the contract that "some of this" should have been done. I won't bore anyone with the details, but "most of it" should have been done, it turns out. Things might be looking up. I hope.
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« Reply #30 on: October 30, 2014, 10:50:43 AM »

Quote from: hitbyambulance on October 13, 2014, 09:16:00 PM

ugh. i suppose the walls were 'marked' as well.

Yup. Entire house.
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Harpua3
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« Reply #31 on: November 02, 2014, 10:27:40 PM »

Setting up ps4. Color me excited.
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